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Despite the multitude of reasons that risky investment instruments ought to be under pressure, the TSX Composite index finished February with a gain of 0.13 per cent after it rose for the third straight day. Monday, February 28, saw energy continue to gain as it rose another 2.6 per cent; the S&P/TSX Capped Energy Index up nearly 28 per cent year-to-date.
The heavily weighted financial sector, accounting for over a third of Canada’s benchmark index, lost 0.8 per cent but going by the earnings reports out so far, it seems to be another solid performance. In all, the index closed Monday at 21,126.36 after growing 20.36 points, 0.1 per cent.
One-year price chart (February 28). Analysis by © 2022 Kalkine Media®
Volume actives
Suncor Energy Inc saw 20.2 million shares traded, making it the most active stock. It was followed by
Manulife Financial Corporation that saw over 18.5 million shares switch hands, and Kinross Gold Corporation saw 15 million shares traded.
Movers and laggards
Wall Street update
Down south, things were less optimistic, but Nasdaq’s benchmark edged higher by 0.41 per cent, 56.78 points, to 13,751.40. The Dow dropped 0.49 per cent, 166.15 points, to 33,892.6, and the S&P 500 was down 0.24 per cent, 10.71 points, to 4,373.94.
Commodities update
Gold lost 0.6 per cent to US$ 1,900.70. Brent oil gained 1.63 per cent and was at US$ 100.99/bbl and crude oil was down 1.09 per cent to US$ 95.72/bbl.
Currency news
The loonie posted a 0.63 per cent gain Monday while USD/CAD ended at 1.2675. The US Dollar Index was at 96.71 against the basket of major currencies, down 0.38 per cent.
Money market
The US 10-year bond yield was down 3.82 per cent to 1.822 and the Canada 10-year bond yield was down 4.37 per cent to 1.815.
